We are trying to get away from fiat, so we peg hive to fiat! help me understaaaand!!

I think that they originally just wanted a mechanism that could allow the witnesses pay the fixed costs associated with web hosting and administrative fees.

This current effort to develop HBD as a currency is really undermining the platform.

BTW, it should be possible, using smart contracts, to pay fixed costs in any currency. The HBD peg is insanity all around.

BTW: I am also puzzled as to why so few people are calling it out. It is like everyone is scared to argue policy with witnesses and whales. This fear turns HIVE into a dangerous echo chamber.